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← CockpitCompetitor Analysis › SQN.SW Swissquote Group Holding Ltd.Open in the cockpit ↗

Swissquote Group Holding Ltd.SQN.SWCompetitor analysis, valuation and peers

Switzerland · CHF·Financials›Investment Banks/Brokers

Swiss online bank and brokerage offering trading, forex, crypto and wealth management to retail and institutional clients.

≈ A Swiss Interactive Brokers/Robinhood hybridMomentum laggard 7
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$6.33B
US dollars, full cap
Free float
72%
of shares outstanding
$/day
$14.8M
20-day average traded
Fwd P/E
15.9×
forward earnings
ROIC−WACC
n/a
WACC 6.1%
Hurdle
n/a
no reverse DCF
Next earnings
132 days
18 Mar 2027
Close · CHFCHF 33.80
1D-1.6%
1W-1.5%
1M-1.5%
3M-20.4%
6M-13.0%
YTD-30.6%
1Y-30.2%
ATR %3.1%
52w lowhigh33.6% off high

What Swissquote does

Swiss online bank and brokerage offering trading, forex, crypto and wealth management to retail and institutional clients.

Earns commissions and fees on client trades, margins on currency trading, and interest on client cash, so trading activity and interest rates both matter. Besides retail traders it supplies trading technology to other banks. Its Swiss banking licence lets it hold clients' cash and assets itself.

In one line: A Swiss Interactive Brokers/Robinhood hybrid.

Products and services

  • Online securities trading
  • Forex trading
  • Crypto asset trading/custody
  • Robo-advisory/wealth management

Customers

  • Retail investors (Switzerland, Europe)
  • Institutional/eForex clients

Where it sits in the supply chain

  • Financials
  • Online brokerage/digital banking
  • Trading, forex, crypto, wealth…

What could go right

  • Retail trading/crypto volume growth
  • Wealth management AUM growth

What could go wrong

  • Trading volume cyclicality (market sentiment)
  • Crypto market volatility exposure

Moat: narrow (scale, brand, switching costs). An established Swiss digital banking/brokerage brand with a wide product range, competing against larger global brokers.

Headquarters: Gland, Switzerland · Founded: 1996 · Employees: 1,448

Named competitors

Swissquote at a glance

Size Swissquote (SQN.SW) is a Switzerland Financials company (Investment Banks/Brokers) with a market value of $6.33B, the 49th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 33.80 on 6 Nov 2026.

Performance Over six months the shares fell 13.0%, against -10.9% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 9th lowest of 21 in its peer set.

Growth Revenue grew 3.8% over the last twelve months (peer median +4.2%); the operating margin is 44.5% (peer median 33.6%).

Valuation It trades at 15.9× forward earnings against a peer median of 8.1× (6th most expensive of 20).

Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).

Relative performance

9010011011 May 202611 Aug 20266 Nov 2026SQN.SW 87Peer median 87
Six months, rebased to 100: Swissquote against the median of its 20 peers (local-currency closes).

Swissquote financials

Reported figures in CHF; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueCHF 801MCHF 796MCHF 735MCHF 589MCHF 456M
Revenue growth—+8%+25%+29%—
Gross profitCHF 667MCHF 668MCHF 622MCHF 493MCHF 375M
EBITDACHF 419MCHF 415MCHF 394MCHF 298MCHF 226M
Net incomeCHF 362MCHF 366MCHF 294MCHF 218MCHF 157M
Free cash flowCHF 482MCHF 724MCHF 608MCHF 385MCHF 154M
Capital expenditureCHF 105MCHF 90.6MCHF 56.5MCHF 53.1MCHF 51.7M
Total debtn/aCHF 350MCHF 450MCHF 321MCHF 380M

Quarterly statements and history in the cockpit →

Swissquote competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-60%-40%-20%0%+20%-20%0%600918005940SNEX601878ALLFG1456600061AZAMKTX000783601555INVPGLXY006800000987600909071050XP601162SQN.SW6-month return →1-month return →
Up and to the right = strong over both horizons. Swissquote is the large dot.

Fundamentals: revenue growth against valuation

-50%0%+50%+100%+150%0×20×40×60×600918005940SNEX601878ALLFG1456600061000783601555006800000987600909071050601162SQN.SWRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Swissquote is the large dot.

Swissquote competitors and peer comparison

Head to head with its named competitors (SQN.SW vs IBKR vs FTK.DE vs IGG.L)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Swissquote SQN.SW$6.33B-13%+4%44%15.9×n/a
Interactive Brokers IBKR$129B-10%+16%87%23.9×n/a
flatexDEGIRO FTK.DE$2.78B-27%+20%45%11.1×n/a
IG Group Holdings plc IGG.L$4.23B-38%+16%40%8.7×n/a
eToro ETOR$1.86B-40%+10%32%11.0×-18.5%
Plus500 PLUS.L$3.12B-26%+3%41%10.4×n/a
UBS UBSG.SW$148B+13%-5%23%13.2×n/a

How Swissquote compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Swissquote against its 20 peers (data as of 6 Nov 2026)
MeasureSQN.SWPeer medianRank in peer set
1-month return-1.5%-6.1%7th highest of 21
6-month return-13.0%-10.9%9th lowest of 21
Distance from 52-week high-33.6%-37.3%10th highest of 21
Revenue growth (TTM)+3.8%+4.2%11th highest of 21
Operating margin44.5%33.6%5th highest of 21
Forward P/E15.9×8.1×6th most expensive of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Swissquote SQN.SWSwitzerland$6.33B-13%+4%44%15.9×n/an/a
Zhongtai Securities 600918.SSChina$6.31B-12%-4%21%17.1×n/an/a
NHIS 005940.KSSouth Korea$6.46B-32%+156%34%5.2×n/an/a
StoneX SNEXUnited States$6.55B-33%+21%2%13.0×n/an/a
Zheshang Securities 601878.SSChina$6.03B-10%-4%32%13.0×n/an/a
Allfunds ALLFG.ASNetherlands$6.69B+18%+1%43%20.5×n/an/a
Guolian Minsheng Securities 1456.HKHong Kong$6.70B-29%+14%25%6.8×n/an/a
SDIC Capital 600061.SSChina$5.96B-7%-28%33%12.0×n/an/a
Avanza Bank AZA.STSweden$5.95B+13%+13%54%19.1×n/an/a
MarketAxess MKTXUnited States$5.83B+12%+3%39%19.5×n/an/a
Changjiang Securities 000783.SZChina$5.77B-13%+13%37%8.1×n/an/a
Soochow Securities 601555.SSChina$5.64B-5%+3%36%10.3×n/an/a
Investec INVP.LUnited Kingdom$7.34B+3%-4%37%7.1×n/an/a
Galaxy Digital GLXYUnited States$5.31B-55%+430%1%n/an/an/a
Mirae Asset Sec 006800.KSSouth Korea$7.57B-66%+5%114%4.0×n/an/a
Guangzhou Yuexiu Capital 000987.SZChina$5.20B-23%-44%11%7.6×n/an/a
Huaan Securities 600909.SSChina$5.17B+23%-18%121%6.2×n/an/a
KIH 071050.KSSouth Korea$5.15B-49%+100%51%2.4×n/an/a
XP Inc. Class A XPUnited States$7.83B-21%+17%32%6.7×n/an/a
Tianfeng Securities 601162.SSChina$4.91B-9%-20%3%65.0×n/an/a
BGC BGCUnited States$4.89B-8%+28%9%7.1×n/an/a

Questions

Who are Swissquote's main competitors?
Named competitors: Interactive Brokers (IBKR), flatexDEGIRO (FTK.DE), Saxo Bank (private) (private or unlisted), IG Group (IGG.L), eToro (ETOR), Plus500 (PLUS.L). The cockpit's measured peer set (industry) also includes Zhongtai Securities (600918.SS), NHIS (005940.KS), StoneX (SNEX), Zheshang Securities (601878.SS), Allfunds (ALLFG.AS), Guolian Minsheng Securities (1456.HK).
Is Swissquote expensive compared with its peers?
On forward p/e it trades at 15.9× against a peer median of 8.1×, 6th most expensive of 20 in its peer set.
How has Swissquote stock performed?
Over six months to 6 Nov 2026 the shares returned -13.0% against -10.9% for the median peer; over one year -30.2%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.